Banks typically use n = 360 for the number of days in a year when computing interest compounded daily (it divides 'nicer' than 365). Consider an account paying 4.5% interest compounded daily. If $7500 is deposited in the account and left in the account for 2 years, what is the value of the account? Round to the nearest cent A = $

Compare this to the value of the account compounded annually. What is the value of an account paying 4.5% interest compounded annually with an initial deposit of $7500? A = $

Compare this to the value of the account compounded monthly. What is the value of an account paying 4.5% interest compounded monthly with an initial deposit of $7500? A = $

Compare this to the value of the account compounded continuously. What is the value of an account paying 4.5% interest compounded continuously with an initial deposit of $7500? Hint the continuous compound interest formula is found on the bottom f page 474: A(t) = Pert A = $